This is where your business is conducted - the building which can be owned, rented by you or you rent the property to others.
Each situation would demand different coverage to adequately protect your risk. If you are deemed to be negligent and therefore liable, the Commercial General Liability (CGL) portion of your insurance policy will respond if that situation is deemed by the adjusters to be a valid claim.
You need to have enough insurance to rebuild after a claim if you own the building. So what is the current reconstruction value? Is there a need for extra by-laws coverage?
You will also need money to help cover the unusual expenses occurred immediately after your property has been damaged. Payroll will need to be met and wages to be paid if you wish to retain your employees.
If you rent, then you need Tenants Legal Liability (TLL), and if the loss has been from fire, then you will likely need to repair or repaint, replace shelving units or pony walls that you did as part of leasehold improvements.
Talk to your agent or broker about where your highest risk is and how to address the hazard. Take control of your insurance so that you are prepared if catastrophe strikes.
Business Property